New Boss for RMAFC as Dangote to Create 1 Million Jobs

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook www.facebook.com/economicconfidential:

An Engineer named Chairman RMAFC with 24 New Members

The Federal Government has nominated Engr. Mbam from the South-East to serve as Chairman of the powerful Revenue Mobilization Allocation and Fiscal Commission (RMAFC) with 24 Federal Commissioners representing various states to fill existing vacancies at the agency. Some of the nominees, according to the Economic Confidential, include former deputy governor, ministers, legislators, chief executive officers... READ

Dangote's team to Create 1 Million Jobs

With more than 12 million Nigerians currently unemployed, the federal government has appointed President of Dangote Group of Companies, Alhaji Aliko Dangote to lead National Committee on Job Creation (NCJC) to work out mechanism of creating one million jobs within a year... READ

Nigeria is Politically and Economically Stable for Investors – Minister

The Minister of Commerce & Industry, Senator Jubril Martins-Kuye has urged foreign investors to take advantage of the current stable political and economic climate in Nigeria by partnering with Nigerian businesses toward building a democratic, developed and prosperous nation. He made the call during the official celebration of Nigerian National Day at the ongoing Shanghai Expo 2010 taking place in Shanghai, China... READ

N87bn to elect treasury looters?

Democracy is popularly defined as a system of government designed by the people for the people.  The adoption of this style as best practice of governance by several nation states is supported by the far reaching economic and social progress made by those countries with strong democratic principles and structures... READ

Diffusing Socio-Economic Tensions in Nigeria

Widespread mass anger continue to trail the perennial recurrence of maddening cases of preventable carnage like the Lagos-Ibadan fire accident with other  avoidable pockets of tensions and crises spilling  all over. What is glaringly clear is that these incidents occur based on the inherent failure of the ruling capitalist elite to meet and address the socio-economic needs of the vast majority of the working masses –critical infrastructure-well-integrated railway system side by side with broadly-connected roads –which is the collapse that brings up these crises time and over again... READ

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Finally Jega-INEC Gets N87bn and Governor Who Never Borrows Money

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Finally  Jega's INEC Gets N87bn Towards 2011 Elections 

The Senators have finally approved a total sum of N87.72 billion for the Independent National Electoral Commission (INEC) towards preparation for next 2011 election. The approved figure indicated an increase of about N13 billion higher than the earlier request of N74 billion made by INEC but  short of N1.87 billion from the N89.59 billion presented by the Presidency. READ

We never Borrow Money for Projects in Kano - Shekarau

Recently before officially declaring his intention to contest for the position of President of Nigeria through the All Nigerian Peoples Party (ANPP), the Economic Confidential was granted an exclusive interview by the Executive Governor of Kano State, Mallam Ibrahim Shekarau on national problems and how he addresses some them in his state including executing projects without borrowing money. READ

Lagos, Ogun have Oil Wells as RMAFC Denies Partiality over Oil Revenue

The Revenue Mobilisation and Fiscal Commission (RMAFC) has described the recent accusations and outburst against it by Governor of River State Chief Rotimi Amaechi as mere balderdash claiming that the governor had visited the Commission contrary to his claims and that Lagos and Ogun States have Oil Well. READ

Dependency on Oil Exposed Banks' Weaknesses

One of the banks rescued by the CBN had a loan book of about N900bn and 90% of the loan is non-performing, even with the intervention of Asset Management Corporation of Nigeria (AMCON) there will still be a vacuum of about N500bn, because these were loans without collaterals. N500bn of depositors' money given away without collateral! READ

Korea Donates Classrooms to States, Advises FG on Priority

The Korean government has donated 37 newly constructed classrooms to Nigeria's government through its special Department, Korea International Cooperation Agency (KOICA). The Korean Government has also approved and prepared the ground for the take-off of other big projects which are the construction of two comprehensive model schools of 25 classrooms each in Gombe and Adamawa states. READ

Crude Oil Production to be measured at Terminal

Realising the huge loss of revenue from crude oil production in Nigeria due to inaccurate metering systems, the Federal Government would engage officials of the Department of Weights and Measures from Ministry of Commerce to perform their duty by ensuring accurate record and measurement as well as volume of crude oil at various terminals. READ

VP Directs Immediate Clearance of All Power Project Containers at the Port

The Vice President, Arc Mohammed Namadi Sambo, has directed the Nigeria Customs Service to clear all containers concerning the National Integrated Power Project (NIPP) and other power equipment at various Ports in the country. READ

CBN Partners AGRA to Stimulate Agric Financing

The Central Bank of Nigeria,(CBN ) has signed a landmark agreement with the Alliance for a Green Revolution in Africa (AGRA) to develop a new innovative mechanism for unlocking billions of Naira of financing to serve the needs of all farmers, especially smallholder farmers, agro-processors, agribusinesses and input suppliers in the agricultural value chain. AGRA is an Africa based organization working in partnership with governments, agricultural research organizations, farmers, private sector, civil society and other rural development stakeholders to significantly and sustainably improve the productivity and incomes of resource poor farmers in Africa. READ

Haiti: 6 Months After the Earthquake

Its over six months now after the earthquake that ripped through Haiti on 12th January 2010 this year, normal activities have gradually returned to the Caribbean country. The people are gradually putting behind them the devastating shocks suffered from the disaster and looking forward to a better life. However, from the streets to the buildings that are still standing and dots of camps used by the displaced population bellies realities of the time. READ

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Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.com

How Nigeria Earned N34tr in Democracy as DG Owns N700mn house in Village

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook www.facebook.com/economicconfidential

Prof. Gambari: A Global Diplomat from Nigeria

He is an African whose name is everywhere on international diplomacy: shuttling between tough terrains; mediating in crises; resolving conflicts as well as preaching the gospel of global peace. He is not only a black African but a global diplomat from Nigeria. He is one of the longest serving Africans at the top managerial positions... Read

Nigeria Earned N34 Trillion in 10years of Democracy

Nigeria is not poor. It is a very rich oil producing country earning trillions of Naira in revenue from the oil and non-oil sectors of the economy.  The Economic Confidential provides in detailed tables how over N34 trillions in revenues were generated between 1999 when President Olusegun Obasanjo was elected President of the country to 2009 before the demise of President Yar'Adua... Read

Federation Account: How They Share N607bn in July 2010

The Economic Confidential magazine provides the table of the distribution of a total sum of N607 billion shared to all tiers of govt including your state in July 2010. The highest recipients are from the oil producing states with Akwa Ibom receiving N17.4bn and Rivers N15.7bn. While some states received less than N3bn, Lagos got N12.5n and Kano N9.4bn... Read

Ex-DG Diverted N2.2bn, Built N700mn House in Village- Witness

He was a top public servant who was alleged to have misappropriated over N2.2 billion public funds and owned a house valued at over N700million in his village, apart from inflating salaries for his pocket. Who is this alleged crook... Read

The PR Crisis of NNPC indebtedness - Yushau Shuaib

Looking at the facts and dramas, one may wonder what actually put Remi Babalola, a former Executive Director in some of big banks into trouble? Is Remi Babalola growing wings and undermining his superiors in government? Is he an overzealous publicity freak who would rather seek media limelight than engage in government business without attracting attention? Or could he be playing to the gallery with hidden agenda, typical of politicians, for immediate or future ambitions?... Read

Is the NNPC Broke? Queries for NNPC and CBN - Les Leba

It came as no surprise to close observers of the economy when the Minister for State for Finance, Remi Babalola reported that the NNPC was insolvent. Although the substantive finance Minister, Olusegun Aganga and the Information Minister refuted this allegation the very next day at a Press Conference after the weekly meeting of the Federal Executive... Read

The Niger Delta and vanishing monthly allocations - Sabella Abidde

A lot has been said and written about the Niger Delta. Even so, not many people who live outside of the region have a complete picture of what the "riverine" areas are truly like - in terms of the toxicity of the land, the "foetidness" of the air, the abject poverty and the miserable social systems... Read

How They Killed Nigeria's Banks -Gbenga Okubadejo

I got fascinated each time I read Mallam Sanusi Lamido Convocation Lecture delivered at the Convocation Square, Bayero University, Kanoto mark the Annual Convocation Ceremony of the University. Mallam Sanusi, The central bank of Nigeria governor, wouldn't have given his speech a better title than the... Read

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AMCON and Toxic Assets of Nigeria's Banks -Salim Salihu Muhammed    

PIB: Making Nigerian Oil Work for the Citizens - Awwal Musa Rafsanjani

Propagating a Cohesive and Integrated Society -Toyeen Ojo

Still on Economic Sanctions against Iran - Abubakar Jimoh

NEMA Takes Reliefs to Ogun Flood Victims

Government to Sign Agreement with Communities on REDD

Niger Delta: Orubebe Seeks Supports of Financial Institutions

Ex-DG Diverted N2.2bn, Built N700mn House in Village- Witness

Unemployed Youths to Get Jobs in Solid Mineral Sector

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Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.com